“We guided because we still have confidence that we can hit within that guide, Nigel, I certainly don't -- wouldn't write it up to the low end of the range at this point.”

In context

“hose offset a little bit of how we're thinking. Certainly, I believe that as we think about 2025 and start to guide that we will be probably towards the lower end of that range that we've given on our through-the-cycle expectations, but well within that. Jeff Sprague: Great. Thank you. Operator: And next, we have Nigel Coe with Wolfe Research. Nigel Coe: Thanks. Good morning, everyone. Thanks for the question. Just want to pick up on the last question from Jeff there. The $1.45 billion to $1.5 billion range for Test and Measurement in 4Q is obviously quite wide. I think just given the expectation that we don't get to revenue growth until the second half of the year, it seems that we're tracking towards the lower end of that range. Just wanted to make sure that was correct. Lal Karsanbhai: We guided because we still have confidence that we can hit within that guide, Nigel, I certainly don't -- wouldn't write it up to the low end of the range at this point. This is the best guide that we feel we can commit to as a management team. Obviously, at some point in the midpoint is how you can think about it. Nigel Coe: Okay. Great. And just to kind of zooming out a sort of a general comment on the environment out there. Obviously, we've seen deterioration in sort of general industrial markets, it feels like some projects are again delayed with some of the uncertainty, maybe higher rates. Just give an overview in terms of what you're seeing out there from customers, maybe a bit more of an end market overview. And just wondering, obviously, the funnel remains very vibrant, increased slightly Q-over-Q. But what about this funnel to order kind of conversion process? Are you starting to see longer decision-making? Lal Karsanbhai: Yes. Thanks, Nigel. Yes”